Hedge-Fund Destruction Is the Route to Salvation: David Reilly

Bloomberg – Like plenty of financial players, hedge funds are taking a beating.

Many once-high-flying managers have been swamped by losses. Others have abandoned the business after discovering it wasn’t such an easy path to riches. Even some of the biggest firms — Citadel Investment Group LLC, D.E. Shaw Group and Tudor Investment Corp., among others — have had to block investors from withdrawing money.